I think its a government conspiracy to take over the accounting profession. Not Really.

But unfortunatly that is what is likely to happen when its all said and done.

As a CPA myself, it will be interesting to see how this all plays out.

Personally I am disgusted that the Profession has apparently preaching integrity while some of the extreemly well paid individuals at the top have been heading us all into a brick wall.

New legislation won't cure the problem. But Jail Time for those responsible and unlimited liabilty to the defrauded shareholders will.

Do the courts and the SEC have the will to impose it?

probably not in all but a few cases.

So Congress will have its day. And the accounting profession will be weakened.

Scott